• Linkdin
Data-Driven Analysis to Identify the Existing and Upcoming Trends in Polyester Fiber Market. Request Report down-aerrow Data-Driven Analysis to Identify the Existing and Upcoming Trends in Polyester Fiber Market. Request Report down-aerrow
         Data-Driven Analysis to Identify the Existing and Upcoming Trends in Polyester Fiber Market. Request Report down-aerrow Data-Driven Analysis to Identify the Existing and Upcoming Trends in Polyester Fiber Market. Request Report down-aerrow
Maximize your media exposure with Fibre2Fashion's single PR package  |   Know More

Shoe Carnival enters into new credit facility

29 Jan '10
2 min read

Shoe Carnival, Inc., a leading retailer of value-priced footwear and accessories, announced the successful completion of a new revolving credit facility.

The new credit agreement provides for up to $50 million in loans and commercial and standby letters of credit through April 30, 2013. The new agreement revises and updates certain terms and covenants contained in the prior credit agreement.

At January 30, 2010, the end of its current fiscal year, the Company expects to have approximately $40 million in cash and cash equivalents. The Company believes that its existing cash and cash flow from operations will be sufficient to fund its working capital and anticipated capital expenditures for its expansion plans in 2010.

"We are very pleased to announce the successful completion of the agreement with Wachovia Bank and believe this facility, in conjunction with our existing cash and cash flow from operations, will adequately meet our capital requirements for anticipated growth over the next several years," said Kerry Jackson, Shoe Carnival's Chief Financial Officer and Treasurer. "We appreciate our lenders' confidence in Shoe Carnival as we continue to execute our long-term growth strategy."

Wachovia Bank, National Association, a Wells Fargo Company acted as Lender and Administrative Agent and Wells Fargo Securities acted as Sole Lead Arranger for the transaction.

Shoe Carnival

Leave your Comments

Esteemed Clients

Woolmark Services India Pvt. Ltd.
Weitmann & Konrad GmbH & Co. KG
VNU Exhibitions Asia
USTER
UBM China (Shanghai)
Tuyap Tum Fuarcilik Yapim A.S.
TÜYAP IHTISAS FUARLARI A.S.
Tradewind International Servicing
Thermore (Far East) Ltd.
The LYCRA Company Singapore  Pte. Ltd
Thai Trade Center
Thai Acrylic Fibre Company Limited
X
Advanced Search